North America, Processing

Utz Quality Foods becomes Utz Brands; to go public

Snack maker Utz Quality Foods, LLC has entered into a definitive agreement with Collier Creek Holdings, a special purpose acquisition company, to form Utz Brands, Inc., a leading pure-play snack food platform. Monica Watrous reports for Food Business News.

After nearly a century as a family-owned, privately-held company, the transaction will introduce Utz as a publicly listed company, with an expected initial enterprise value of approximately $1.56 billion, or 11.6x its estimated 2021 pro forma adjusted EBITDA of $134 million.

It is expected Utz Brands will trade on the New York Stock Exchange under the ticker symbol

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